The brand of hotel emerged in documentation for an $823,624 grant for cleanup, including asbestos removal, in the second phase of the long-vacant landmark’s revitalization. The nine buildings of the South Arcade are being redeveloped as a mix of housing, commercial space and event space. The two buildings of the North Arcade, totaling 87,000 square feet, are expected to house a marketplace, restaurants and “micro-lofts” or hospitality space, according to developers.
Built between 1902 and 1904, with more buildings added later, the Arcade complex housed a variety of merchants for decades, according to developers. It slowly declined, despite redevelopment efforts around 1980, and closed in the early 1990s. But redevelopment plans have been underway since 2007, with a development partnership putting together a nearly $100 million capital effort. The Arcade partially reopened in 2020 with the Arcade Innovation Hub as its first tenant
The cleanup grant for the North Arcade is one of several for local projects, totaling $5.8 million for four Miami Valley counties, as part of a statewide effort to clean up contaminated sites known as “brownfields.”
The 2021 state budget included $350 million for a renewed Brownfield Remediation Program statewide.
Local projects funded by the latest round of grants include one in Greene County, one in Miami County, three in Montgomery County and one in Preble County, according to a news release from Gov. Mike DeWine. The biggest grant for the area is nearly $3.7 million for work at Deed’s Point, intended site of the new Greater Dayton School.
The state funding can pay up to 75% of a cleanup project’s cost, but has to be used within a year.
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